Kopex' share price rises on the strength of more contracts

Mining equipment producer, Kopex, has signed a zł. 70 million contract for the delivery of mining facilities and services to Iran and said it was expecting to clinch a deal with several other foreign investors. "The coming years may bring new contracts. We are now in talks concerning a coalmine in Vietnam and the delivery of equipment to Serbia and Montenegro," the company announced in a press release yesterday. According to sources, the value of the Vietnam project alone is $92 million. Currently, Kopex and Toshiba of Japan are carrying out a contract for the Romanian energy sector, at the price of zł. 40 million. The company has also announced that it has co mpleted another project in Romania, worth around zł. 100 million. The news sent the company's shares soaring by just over 23% yesterday. Kopex's projected net profit for this year, stands at zł. 9.8 million, compared to a mere zł. 4.8 million for 2002. (www.onet.pl) J.K.